QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Dearborn Partners LLC

Key Points

• Dearborn Partners LLC decreased its holdings in QUALCOMM by 15.5% in Q1, selling 43,283 shares but still holds 236,728 shares valued at approximately $36.4 million.
• QUALCOMM recently reported earnings of $2.85 EPS, exceeding expectations and showing a 17% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.89, representing an annualized yield of 2.20%, with the payout ratio currently at 36.25%.

Dearborn Partners LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 236,728 shares of the wireless technology company's stock after selling 43,283 shares during the period. QUALCOMM accounts for about 1.7% of Dearborn Partners LLC's investment portfolio, making the stock its 14th largest position. Dearborn Partners LLC's holdings in QUALCOMM were worth $36,364,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors grew its holdings in QUALCOMM by 81.0% during the 1st quarter. Arkadios Wealth Advisors now owns 52,566 shares of the wireless technology company's stock valued at $8,075,000 after buying an additional 23,525 shares in the last quarter. First National Trust Co grew its holdings in QUALCOMM by 129.4% during the 1st quarter. First National Trust Co now owns 48,681 shares of the wireless technology company's stock valued at $7,478,000 after buying an additional 27,456 shares in the last quarter. Tredje AP fonden grew its holdings in QUALCOMM by 76.3% during the 1st quarter. Tredje AP fonden now owns 514,692 shares of the wireless technology company's stock valued at $79,062,000 after buying an additional 222,720 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in QUALCOMM during the 1st quarter valued at approximately $361,000. Finally, Vestcor Inc grew its holdings in QUALCOMM by 3.6% during the 1st quarter. Vestcor Inc now owns 21,349 shares of the wireless technology company's stock valued at $3,279,000 after buying an additional 739 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Loop Capital dropped their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. UBS Group lifted their price objective on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Wall Street Zen raised shares of QUALCOMM from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $181.91.

Insider Buying and Selling

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 424,099 shares of company stock worth $8,324,591. Company insiders own 0.08% of the company's stock.

QUALCOMM Trading Up 1.0%

NASDAQ:QCOM traded up $1.43 on Friday, reaching $148.19. 12,700,280 shares of the company's stock were exchanged, compared to its average volume of 8,540,689. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $162.71 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26. The business has a fifty day moving average of $155.05 and a 200-day moving average of $155.00. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.44%. The firm had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the firm earned $2.33 earnings per share. The business's quarterly revenue was up 10.4% compared to the same quarter last year. As a group, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio is presently 36.25%.

QUALCOMM Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.